Do you really know what is costs to live on your own? Cost of Living.

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Presentation transcript:

Do you really know what is costs to live on your own? Cost of Living.

Uncle Sam takes how much?!? Here is how a starting salary of $35,000 is taxed. By the time Uncle Sam get’s his cut, your $35,000 salary is now between $22,000 and $25,000 And that’s BEFORE you start paying for your expenses Monthly Salary$2,917 (35,000/12) Federal Taxes$331 Social Security$181 Medicare$42 State Taxes$100 Employee Benefits$ k (You know you should)$250 YOUR PAYCHECK (If you fund 10%) $1863 YOUR PAYCHECK (Without 401k funded) $2113

I have to pay how much to live? If you have a car loan, Transportation is more expensive. If you’re spending too much on entertainment, the money has to come from some other area. The more debt you rack up, the higher the percentage will be Expenses$2113/Month$1863/Month Housing (30%)$634$560 Utilities (10%)$211$186 Food (15%)$317$280 Transportation (10%) No Car loan $211$186 Debt (10%) (Yes you will have it) $211$186 Savings (10%) (Pay yourself) $211$186 Clothing (5%)$106$93 Entertainment (5%)$106$93 Car Insurance (5%)$106$93 THAT’S WHAT’S LEFT YES IT’S RIGHT 0.00

So what does that get me around here? Approximately 700 Square Feet 1 bedroom/1 bath in Woodstock For between $625-$800 per month To move in, you need First Month-Last Month and Deposit. That’s $1875 to $2400 just to MOVE IN!!

Surrounding Areas 1 Bed/1Bath Approximately 700 Square Feet Roswell $900/Month Marietta $700/Month Dunwoody/Buckhead $1100/Month Atlanta $1200/Month

What if I get a roommate? 2-3 bedroom apartments cost substantially more Average 2 bedroom is $400-$500 more, and utilities will be more. Do you LIKE the person you are going to live with?

Any Questions?